What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
Top Rated
28 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
Top Rated
28 Ratings
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Score 8.6 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
J.P. VanderLinden profile photo

Workbooks

It's a really great system for small to medium organizations that are willing to spend some time thinking about how their workflow can be improved by designing processes which will allow them to streamline and automate their business. For people who are not serious about making a commitment to bettering their business, Workbooks may not be a correct fit. For instance there are a lot of features which many people think they don't need, but they haven't really spent the time to figure out what the needs of the business are. The nice thing about Workbooks is that you can turn off things you don't need, and then when the business demands, they will be there for you to utilize.
Brian Walsh profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Workbooks
Pay calculation
Accounting by Wave
8.3
Workbooks
Benefit plan administration
Accounting by Wave
7.5
Workbooks
Direct deposit files
Accounting by Wave
8.0
Workbooks
Salary revision and increment management
Accounting by Wave
7.7
Workbooks
Reimbursement management
Accounting by Wave
8.0
Workbooks

Customization

Accounting by Wave
9.0
Workbooks
7.8
API for custom integration
Accounting by Wave
8.9
Workbooks
7.5
Plug-ins
Accounting by Wave
9.1
Workbooks
Custom fields
Accounting by Wave
Workbooks
8.4
Custom objects
Accounting by Wave
Workbooks
7.6
Scripting environment
Accounting by Wave
Workbooks
7.5

Security

Accounting by Wave
8.6
Workbooks
7.5
Single sign-on capability
Accounting by Wave
9.1
Workbooks
7.0
Role-based user permissions
Accounting by Wave
8.1
Workbooks
8.0

Reporting & Analytics

Accounting by Wave
8.4
Workbooks
Dashboards
Accounting by Wave
8.4
Workbooks
Standard reports
Accounting by Wave
8.3
Workbooks
Custom reports
Accounting by Wave
8.6
Workbooks

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Workbooks
Accounts payable
Accounting by Wave
8.6
Workbooks
Accounts receivable
Accounting by Wave
9.2
Workbooks
Cash management
Accounting by Wave
8.0
Workbooks
Bank reconciliation
Accounting by Wave
7.8
Workbooks
Expense management
Accounting by Wave
8.5
Workbooks
Time tracking
Accounting by Wave
7.3
Workbooks
Fixed asset management
Accounting by Wave
6.3
Workbooks
Multi-currency support
Accounting by Wave
8.5
Workbooks
Multi-division support
Accounting by Wave
7.5
Workbooks
Regulations compliance
Accounting by Wave
7.3
Workbooks
Electronic tax filing
Accounting by Wave
6.0
Workbooks
Self-service portal
Accounting by Wave
9.0
Workbooks
Global Financial Support
Accounting by Wave
9.0
Workbooks
Primary and Secondary Ledgers
Accounting by Wave
9.3
Workbooks
Intercompany Accounting
Accounting by Wave
8.7
Workbooks
Localizations
Accounting by Wave
9.5
Workbooks
Journals and Reconciliations
Accounting by Wave
8.1
Workbooks
Enterprise Accounting
Accounting by Wave
8.7
Workbooks
Configurable Accounting
Accounting by Wave
8.5
Workbooks
Centralized Rules Framework
Accounting by Wave
9.0
Workbooks
Standardized Processes
Accounting by Wave
8.0
Workbooks

Inventory Management

Accounting by Wave
8.9
Workbooks
Inventory tracking
Accounting by Wave
9.5
Workbooks
Automatic reordering
Accounting by Wave
8.0
Workbooks
Location management
Accounting by Wave
9.0
Workbooks
Manufacturing module
Accounting by Wave
9.0
Workbooks

Order Management

Accounting by Wave
7.9
Workbooks
Pricing
Accounting by Wave
8.3
Workbooks
Order entry
Accounting by Wave
8.3
Workbooks
Credit card processing
Accounting by Wave
9.1
Workbooks
Cost of goods sold
Accounting by Wave
8.8
Workbooks
Order Orchestration
Accounting by Wave
8.0
Workbooks
End-to-end order visibility
Accounting by Wave
4.8
Workbooks
Order exception Resolution
Accounting by Wave
8.0
Workbooks

Accounting Firm BPO Features

Accounting by Wave
8.0
Workbooks
Branded client dashboards
Accounting by Wave
8.0
Workbooks
Client data roll-up capabilities
Accounting by Wave
8.0
Workbooks
Client data consolidation for benchmarking
Accounting by Wave
7.5
Workbooks
Configurable alerts
Accounting by Wave
8.0
Workbooks
Billing bypass
Accounting by Wave
8.0
Workbooks
Client template cloning
Accounting by Wave
8.0
Workbooks
Single sign-on
Accounting by Wave
9.0
Workbooks
Configurable client onboarding questions
Accounting by Wave
8.0
Workbooks
Cross-client workflow management
Accounting by Wave
8.0
Workbooks
Industry-specific versioning
Accounting by Wave
8.0
Workbooks
Legacy system data migration
Accounting by Wave
8.0
Workbooks

Sales Force Automation

Accounting by Wave
Workbooks
7.7
Customer data management / contact management
Accounting by Wave
Workbooks
8.5
Workflow management
Accounting by Wave
Workbooks
8.2
Territory management
Accounting by Wave
Workbooks
7.7
Opportunity management
Accounting by Wave
Workbooks
8.8
Integration with email client (e.g., Outlook or Gmail)
Accounting by Wave
Workbooks
6.3
Contract management
Accounting by Wave
Workbooks
7.2
Quote & order management
Accounting by Wave
Workbooks
7.6
Interaction tracking
Accounting by Wave
Workbooks
6.4
Channel / partner relationship management
Accounting by Wave
Workbooks
8.4

Customer Service & Support

Accounting by Wave
Workbooks
6.3
Case management
Accounting by Wave
Workbooks
6.2
Call center management
Accounting by Wave
Workbooks
6.8
Help desk management
Accounting by Wave
Workbooks
5.8

Marketing Automation

Accounting by Wave
Workbooks
7.3
Lead management
Accounting by Wave
Workbooks
8.0
Email marketing
Accounting by Wave
Workbooks
6.6

CRM Project Management

Accounting by Wave
Workbooks
7.5
Task management
Accounting by Wave
Workbooks
7.7
Billing and invoicing management
Accounting by Wave
Workbooks
6.8
Reporting
Accounting by Wave
Workbooks
7.8

CRM Reporting & Analytics

Accounting by Wave
Workbooks
8.6
Forecasting
Accounting by Wave
Workbooks
8.2
Pipeline visualization
Accounting by Wave
Workbooks
8.8
Customizable reports
Accounting by Wave
Workbooks
8.8

Social CRM

Accounting by Wave
Workbooks
6.6
Social data
Accounting by Wave
Workbooks
6.0
Social engagement
Accounting by Wave
Workbooks
7.3

Integrations with 3rd-party Software

Accounting by Wave
Workbooks
6.8
Marketing automation
Accounting by Wave
Workbooks
6.7
Compensation management
Accounting by Wave
Workbooks
7.0

Platform

Accounting by Wave
Workbooks
4.3
Mobile access
Accounting by Wave
Workbooks
4.3

Pros

  • The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
  • Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
  • Year end reports are easy to generate in either pdf or csv format.
No photo available
  • Great flexibility. The system is very flexible and you are able to setup reports and manage screens in the way you wish, adding custom fields and hiding any information deemed not important enough. user access levels can be used lock down various parts of the system
  • Great support team and very helpful when doing our own custom integrations
  • Excellent for lead management and reporting on opportunities that we can then pass onto the sales team
  • Easy to use, the interface looks clean and modern and its simple to find your way around
David Carter profile photo

Cons

  • The mobile experience leaves a lot to be desired. While I can use the receipt app to capture expenses, we live in a mobile digital world where I need to be able to create quotes and invoices on the spot and not back at my desk.
  • There are a few accounting and account related tools that could use some sharpening. For example, there isn't a good way to merge transactions - so when I snap a picture of a receipt and add it there is trouble reconciling against the bank. This shows up as two discrete transactions that cannot be merged - so one has to be manually deleted. It kind of defeats the purpose of scanning the receipts in entirely.
  • We've struggled with integrating debt accounts. For example, a shareholder may pay for something to get us by one day - how to we capture that as a debt owed? There isn't a way. The "shareholder debt" account doesn't talk to the rest of the system.
No photo available
  • We use it for support but find it difficult to easily link support emails that arrive to organisations, it requires a lot of manual input to open/close a case
  • The flexibility can be a hindrance as it can be difficult to work out exactly what you wish to see, especially in reports. Sometimes a simple report is all thats required but it provides a lot of information
  • Can sometimes be a little slow and goes down from time to time but this is fairly rare
David Carter profile photo

Likelihood to Renew

Accounting by Wave7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo
Workbooks8.5
Based on 7 answers
Because our overall business increased our hold on the processes expanded and our data gives us a clear view on or direction. It's everything we wanted for our business development. We have a clear view on our primary focus etc. People enjoy working with the system and new employees pick up on it's functionality quickly.
Martijn Daalder profile photo

Usability

Accounting by Wave5.3
Based on 4 answers
I am a professional bookkeeper and I have no problems using Wave and all of it's features. I can see that certain individuals who have no accounting knowledge might struggle with a few different features and entries, but that is why Wave has an emphasis in connecting users to Wave Pro's who will walk them through things
Melissa Whaley profile photo
Workbooks7.3
Based on 1 answer
No answer on this topic is available.

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
Workbooks9.1
Based on 2 answers
Workbooks CRM never let me down.
Peter Lindeman profile photo

Performance

Accounting by Wave2.9
Based on 2 answers
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
Melissa Whaley profile photo
No score
No answers yet
No answers on this topic

Support

Accounting by Wave9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo
Workbooks8.2
Based on 1 answer
No answer on this topic is available.

Online Training

Accounting by Wave4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo
Workbooks6.4
Based on 1 answer
Workbooks online trianing does what it needs to; but some training will always be better suited to face to face..
Brendan Harris, MBA profile photo

Alternatives Considered

Each one of these cloud-based or desktop accounting services offer different pros and cons. It really comes down to the individual owner's wants and needs. While Wave is not going to be my first choice for a large, complex organization, it really shines when handling a one person shop who wants to keep track of their home and business finances in one place without all the complexity of traditional bookkeeping software. It's far less expensive than its competitors and has made constant strides to improve itself since day one. It also has a very friendly support staff who have a very fast response time.
Eric Matthews profile photo
The ability to customize Workbooks really gave them the lead against the other products that we have used or that we considered when upgrading from the Base CRM system.
Andrew Cutler profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
I rated the software an 7 due to its ease of use. It would be rated higher, but I consider this to be a niche product instead of a go to product for all clients. This is the software to use if you want an inexpensive entry level software for an owner managed business.
Randy O'Malley profile photo
No score
No answers yet
No answers on this topic

Scalability

Accounting by Wave3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • Being as it's free software to use I'd say implementing wave has been a positive return for the business.
  • Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year
Matthew Gehrman profile photo
  • We have definitely provided better customer service and response times to customers new and existing. I would estimate we are at least 30% better at responding to and dealing with initial sales enquiries or support cases.
  • Having retired several servers and OS software costs, we saved a significant amount on the capex budget for other more important capex spend.
Paul Reynolds profile photo

Screenshots

Pricing Details

Accounting by Wave

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Accounting by Wave Editions & Modules
Accounting by Wave
Additional Pricing Details

Workbooks

General
Free Trial
Yes
Free/Freemium Version
Yes
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
Workbooks Editions & Modules
Workbooks
Edition
Workbooks CRM Edition
$301
Workbooks Business Edition
$701
1. per user/per month
Additional Pricing Details